Georgia: Request for Stand-By Arrangement: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Georgia
IMF Staff Country Reports, October 6, 2008
Source details
- Canonical URL
- Georgia: Request for Stand-By Arrangement: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Georgia
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Bibliographic details
- Published: October 6, 2008
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451814675.002
Summary and Purpose
- Examines Georgia’s request for an 18-month arrangement for SDR 477.1 million, equivalent to about US$750 million, which would constitute exceptional access.
- IMF support to the government’s macroeconomic policies is intended to:
- provide the needed financing to rebuild gross international reserves, and
- help restore investor confidence.
Macroeconomic and Financial Policy Findings
- IMF financing is targeted to rebuild gross international reserves.
- Restoring investor confidence is an explicit objective of the IMF-supported program.
- Monetary policy faces a central trade-off between:
- providing sufficient liquidity to the banking system, and
- stabilizing the exchange rate while avoiding an excessive loss of international reserves.
Key Subjects and Keywords
- Subjects: Banking, Central Banks, Credit, External debt, Foreign exchange, International reserves, Money, Public debt
- Keywords: arrangement, arrangement informational annex, CR, Credit, Global, GRA credit, IMF quota, International reserves, investor confidence, ISCR, request, stand-by, stand-by arrangement informational annex